Oil and gas prices are slowing the economy down to a tragic halt. We have covered this before in previous articles, that the rise in oil and gas prices are due to lack on Wall Street oversight and regulations in the commodities market. Unfortunately that does not stop the right wing machine from lying to the public about domestic oil production. Here is a sample of the lies presented by right wing media. Big Government, a Andrew Breitbart website states,
The federal government has not approved a single new exploratory drilling plan in the Gulf of Mexico since lifting its deepwater drilling moratorium on Oct. 12. There are currently 103 plans awaiting review by the Bureau of Ocean Energy Management, Regulation and Enforcement.
“One. That’s the number of new drilling permits under the Obama administration since they came into office.”
Here is the real story according to the Bureau of Ocean Energy Management, Regulations and Enforcement,
Shallow water: To date, 55 new shallow water well permits have been issued since the implementation of new safety and environmental standards on June 8, 2010. Permits have averaged 6 per month since October 2010, compared to an average of 8 per month in 2009. Just 6 of these permits are currently pending; with 9 having been returned to the operator for more information.
Deepwater permits requiring subsea containment: Since an applicant first successfully demonstrated containment capabilities in mid-February, we have approved 43 of these permits for 15 unique wells, with 24 permits pending, and 18 permits returned to the operator with requests for additional information, particularly information regarding containment.
Deepwater activities not requiring subsea containment: Since the implementation of new safety and environmental standards, 40 of these permits have been approved, with 1 currently pending. These activities include water injection wells and procedures using surface blowout preventers.
There have been 61 new well permits submitted since June 8th, 2010 in shallow water,which is 500 feet deep or less. Out of those submission 55 have been approved. 112 revised new well permits have also been approved.
Let’s move onto the deep water wells, since the moratorium was lifted in October of 2010 the Obama Administration has received 20 submissions for brand new wells, with 7 approved and 15 pending. The administration has also approved 36 out of the 42 revised new well submissions since October of 2010.
The grand total of all oil related drilling permits from brand new wells, revised, sidetrack, bypass etc in both shallow and deep water is 388 since June of 2010.
These numbers include existing wells that need updating or other safety and maintenance, but the fact remains that this Administration has approved 388 permits in ONE YEAR.
There is quite a discrepancy in the numbers bloggers mention and conservative Congressman like Bachmann mention which is ONE. They lie and misinform but unfortunately the public believes them.